Kodak Presentation

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Kodak, saving an institution.

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Kodak Presentation

  1. 1. “Man plans, God laughs”<br /> -Yiddish Proverb<br />
  2. 2. Saving an institution<br />
  3. 3. $7.5 Billion in debt<br />88,000 employees<br />Poor project management<br />Few new products<br />Lethargic matrix management<br />Shaky morale<br />Cut-throat competition<br />Kodak was dying in 1993 – Why?<br />
  4. 4. “Those that do not learn from history are doomed to repeat it”<br />George Santayana<br />
  5. 5. Became CEO of Kodak in 1993<br />Ph.D. in Applied Mathematics from Brown University 1966<br />Former CEO Motorola 1988-1993<br />Industry Rock Star<br />Enter George M.C. Fisher – who is he?<br />
  6. 6. Eliminate Debt<br />Streamline Management<br />Fast Track Products<br />Increase Profitability<br />Reinvent corporate culture<br />Go slow, let change be absorbed gradually<br />George had a plan to save Kodak – What was it?<br />
  7. 7. $6 Million of debt was eliminated through sale of subsidiaries.<br />The company was refocused on digital as the future of the company<br />Expenses were slashed <br />Management was held accountable<br />Did it work?<br />In some ways, yes, others no<br />
  8. 8. Employee ranks were still bloated with analysts calling for cuts of 10-20%<br />The dollar got stronger, which made competing against Fuji films overseas almost impossible.<br />Fuji slashed the price of its film to thwart Kodak’s overseas bid.<br />That sounds good, what didn’t work?<br />
  9. 9. George Fisher stepped down as CEO in 1999 and Chairman in 2000 at age 58. He now sits on several boards but has never been CEO again. <br />His Successor Daniel Carp was a 30 year Kodak veteran. (he lasted five years)<br />George Perez is now CEO<br />Ouch, what happened then?<br />
  10. 10. And the stock price, what’s happened to it?<br />
  11. 11. Hard to say but certainly not in its present form. Kodak just announced job cuts of 4500 while announcing its first quarterly profit in years.<br />The stock surged 18% to $6.08.<br />The stock traded for $90 in 1997<br />Will Kodak survive?<br />
  12. 12. Again hard to say, he could have cut more jobs quicker and refocused on digital products sooner<br />In some cases the corporate culture is so ingrained that no CEO can make his message heard all the way down the org chart.<br />In Closing, could George have done anything different to turn Kodak around?<br />

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